NOT FOR DISTRIBUTION
Header cover image

Market Cap

US$2.5b

Last Updated

2021/04/11 22:14 UTC

Data Sources

Company Financials +

Executive Summary

American Assets Trust, Inc. is a full service, vertically integrated and self-administered real estate investment trust, or REIT, headquartered in San Diego, California. More Details


Snowflake Analysis

Average dividend payer with questionable track record.


Similar Companies

Share Price & News

How has American Assets Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AAT is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: AAT's weekly volatility (5%) has been stable over the past year.


Market Performance


7 Day Return

0.4%

AAT

0.3%

US REITs

2.1%

US Market


1 Year Return

12.0%

AAT

18.3%

US REITs

56.3%

US Market

Return vs Industry: AAT underperformed the US REITs industry which returned 18.3% over the past year.

Return vs Market: AAT underperformed the US Market which returned 56.3% over the past year.


Shareholder returns

AATIndustryMarket
7 Day0.4%0.3%2.1%
30 Day-6.6%4.2%2.4%
90 Day18.9%12.9%6.1%
1 Year15.7%12.0%23.3%18.3%59.1%56.3%
3 Year7.1%-1.7%41.9%24.7%65.7%55.1%
5 Year-1.3%-14.0%46.8%17.2%122.3%97.6%

Long-Term Price Volatility Vs. Market

How volatile is American Assets Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is American Assets Trust undervalued compared to its fair value and its price relative to the market?

71.68x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: AAT ($33.15) is trading above our estimate of fair value ($17.8)

Significantly Below Fair Value: AAT is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: AAT is poor value based on its PE Ratio (71.7x) compared to the US REITs industry average (46.5x).

PE vs Market: AAT is poor value based on its PE Ratio (71.7x) compared to the US market (22.3x).


Price to Earnings Growth Ratio

PEG Ratio: AAT is poor value based on its PEG Ratio (4.4x)


Price to Book Ratio

PB vs Industry: AAT is good value based on its PB Ratio (1.6x) compared to the US REITs industry average (1.8x).


Future Growth

How is American Assets Trust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

16.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AAT's forecast earnings growth (16.3% per year) is above the savings rate (2%).

Earnings vs Market: AAT's earnings (16.3% per year) are forecast to grow slower than the US market (18.6% per year).

High Growth Earnings: AAT's earnings are forecast to grow, but not significantly.

Revenue vs Market: AAT's revenue (3.5% per year) is forecast to grow slower than the US market (9.9% per year).

High Growth Revenue: AAT's revenue (3.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AAT's Return on Equity is forecast to be low in 3 years time (7.2%).


Past Performance

How has American Assets Trust performed over the past 5 years?

2.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AAT has high quality earnings.

Growing Profit Margin: AAT's current net profit margins (8.1%) are lower than last year (12.6%).


Past Earnings Growth Analysis

Earnings Trend: AAT's earnings have grown by 2.9% per year over the past 5 years.

Accelerating Growth: AAT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: AAT had negative earnings growth (-39.5%) over the past year, making it difficult to compare to the REITs industry average (-4.4%).


Return on Equity

High ROE: AAT's Return on Equity (2.8%) is considered low.


Financial Health

How is American Assets Trust's financial position?


Financial Position Analysis

Short Term Liabilities: AAT's short term assets ($227.2M) exceed its short term liabilities ($62.6M).

Long Term Liabilities: AAT's short term assets ($227.2M) do not cover its long term liabilities ($1.5B).


Debt to Equity History and Analysis

Debt Level: AAT's debt to equity ratio (112.6%) is considered high.

Reducing Debt: AAT's debt to equity ratio has reduced from 127.6% to 112.6% over the past 5 years.

Debt Coverage: AAT's debt is not well covered by operating cash flow (9%).

Interest Coverage: AAT's interest payments on its debt are not well covered by EBIT (1.7x coverage).


Balance Sheet


Dividend

What is American Assets Trust current dividend yield, its reliability and sustainability?

3.02%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AAT's dividend (3.02%) is higher than the bottom 25% of dividend payers in the US market (1.26%).

High Dividend: AAT's dividend (3.02%) is low compared to the top 25% of dividend payers in the US market (3.5%).


Stability and Growth of Payments

Stable Dividend: AAT's dividend payments have been volatile in the past 10 years.

Growing Dividend: AAT's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (41.9%), AAT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: AAT's dividends in 3 years are forecast to be covered by earnings (63% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.9yrs

Average management tenure


CEO

Ernest Rady (83 yo)

5.58yrs

Tenure

US$3,784,465

Compensation

Mr. Ernest Sylvan Rady founded American Assets Trust, Inc. in 1967 and has been its Executive Chairman of The Board since January 2011. He serves as Executive Chairman at American Assets Capital Advisers, ...


CEO Compensation Analysis

Compensation vs Market: Ernest's total compensation ($USD3.78M) is about average for companies of similar size in the US market ($USD5.06M).

Compensation vs Earnings: Ernest's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: AAT's management team is seasoned and experienced (7.9 years average tenure).


Board Members

Experienced Board: AAT's board of directors are seasoned and experienced ( 10.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

American Assets Trust, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: American Assets Trust, Inc.
  • Ticker: AAT
  • Exchange: NYSE
  • Founded: 1967
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Implied Market Cap: US$2.541b
  • Market Cap: US$2.005b
  • Shares outstanding: 76.65m
  • Website: https://www.americanassetstrust.com

Number of Employees


Location

  • American Assets Trust, Inc.
  • 11455 El Camino Real
  • Suite 200
  • San Diego
  • California
  • 92130
  • United States

Listings


Biography

American Assets Trust, Inc. is a full service, vertically integrated and self-administered real estate investment trust, or REIT, headquartered in San Diego, California. The company has over 50 years of ex...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/04/11 22:14
End of Day Share Price2021/04/09 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.